What Is the Probate Referee Appraisal and Why It Matters

A probate referee is an appraiser appointed by the court to value the estate's non-cash assets, including the home. In San Diego, referees are assigned in rotation. Their valuation is important for two reasons.

Price floor and tax basis

First, in a court-confirmed sale, the referee's appraised value sets the price floor: the sale generally must be at least 90 percent of that appraisal. Second, the date-of-death appraised value helps establish the stepped-up basis that determines your capital gains when you sell. A well-supported appraisal protects the estate on both fronts. If the referee's value looks off, there are procedures to address it. We work with the appraisal, not against it, and price the home to the real market.